Bond yields and the pound fall as two Bank of England members vote for cut
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 09 2024
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Source: MarketWatch
- U.K. Bond Yields and Pound Decline: U.K. bond yields and the British pound decreased due to two voters at the Bank of England supporting an interest-rate cut.
- Bank of England Decision: The Bank of England decided by a 7-to-2 vote to maintain interest rates at 5.25%.
- Voters for Rate Cut: Swati Dhingra, an external member, who previously voted for a rate cut, was joined by Dave Ramsden, deputy governor for markets and banking, in this decision.
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Analyst Views on GBPUSD
Wall Street analysts forecast GBPUSD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GBPUSD is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
